First quarter profits have not been very common among legacy airlines over the past few years, yet today, AA reported a first quarter profit of $8 million, excluding reorganization expenses and special items (including some merger expenses):
http://hub.aa.com/en/nr/pressrelease/amr-corporation-reports-first-quarter-2013-net-profit-of-8-million-excluding-reorganization-and-special-items
Labor costs down 16.7%, almost in line with the claimed 17% reduction achieved last year. Yield up, PRASM up, but Pacific yields and PRASM were dreadful. Compared to Europe or S America, AA is giving away seats to Asia.
AA noted that its performance at CHI and LAX were particularly strong (even though it faces strong competition from UA at both and DL at LAX).
Unlike UA, which has been slashing capacity, AA's capacity cuts were very small. Unit revenue up on slightly higher yields and higher load factors.
http://hub.aa.com/en/nr/pressrelease/amr-corporation-reports-first-quarter-2013-net-profit-of-8-million-excluding-reorganization-and-special-items
Labor costs down 16.7%, almost in line with the claimed 17% reduction achieved last year. Yield up, PRASM up, but Pacific yields and PRASM were dreadful. Compared to Europe or S America, AA is giving away seats to Asia.
AA noted that its performance at CHI and LAX were particularly strong (even though it faces strong competition from UA at both and DL at LAX).
Unlike UA, which has been slashing capacity, AA's capacity cuts were very small. Unit revenue up on slightly higher yields and higher load factors.